What next after phcn sale?

SIR: An appreciable progress was made in the privatisation programme of PHCN with the emergence of successful bidders for five generation stations and 10 out of the 11 unbundled distribution companies on September 25 and October 16, respectively.

This journey even though a tortuous one has put paid speculations that privatisation of the power sector may not be feasible this year. For the drivers of this agenda of government: the National Council on Privatisation and the Bureau of Public Enterprises it calls for celebrations. As usual, the exercise has polarized stakeholders in the sector who have been speaking for and against the process leading to the eventual selection of the preferred bidders. The dust raised is yet to settle and will not settle in the near future.

First, the value of the entire PHCN as against its present market price of 200 billion naira has been faulted by the in- house union of PHCN which claimed it was prodigal to sell an asset worth two trillion naira at such a give-away price. Second, transparency of the privatisation programme was also called to question by the governors of Delta, Edo, Ondo and Ekiti States whose governments or their personalities are backing Southern Electricity Distribution Company which failed to clinch Benin Distribution Company.

The governors granted a press conference alleging backhand deals. They vowed to stop Vigeo Group the preferred bidder from taking over the Benin Zone which Governor Emmanuel Uduaghan of Delta State claimed they have been spending money on its distribution facilities and transmission networks.

These governors in their capacity as state executives or as individuals cannot lay claim to be the only ones that have contributed to the growth of PHCN. What of the monies spent or contributed by spirited individuals, communities, companies, corporate bodies, banks and Non-Governmental Organisations in buying poles, transformers, cables, fuses, repairs of transmission networks or transformers and other accessories all in the bid to ensure that their businesses or localities get supply? Should they equally ask for refund or become an obstacle to the process? According to reports, the winner offered 21.78% while Southern Electricity backed by the governors offered 17.78%.

The lone voice of reason by key stakeholders has since been drowned and overtaken by events in the perceived non-performance of PHCN itself. The opinion of most Nigerians no doubt has tilted in favour of what the drivers of the programme promised in the aftermath of the process. To that effect we all forget that it is our collective responsibility to know how and why our patrimony should be disposed at such ridiculous prices. The allegation made the governors even though weighty cannot cast any meaningful doubt on the process because it was done in bad faith. It was selfish. They only raised alarm because they were outsmarted.

These governors and others are free to register companies to bid and run public utilities on their behalf for the good of their states because the expected revenue will improve the lots of their people. They are also free with all intent and purposes and with due respect too to cry wolf if there was any.

But this hullabaloo is typical of Nigerian leaders in all its ramifications. Nigerians are advised not to be hoodwinked by this saintly posture of these governors. Where were they when some stakeholders, the unheard voices of PHCN staff were at one time opposing this entire process and lately advocating transparency?

What next after the privatisation of PHCN should be the question. Do these qualified bidders actually have the needed wealth of experience and technical know-how to transform the moribund power sector? Will they be able to provide Nigerians with the expected quality and efficient non-stop power supply everyone yearns for? Will electricity be affordable to an average Nigerian when government eventually hands off? These are what should bother Nigerians.